Weekly Open Thread (2015-07-06)

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Here is your open thread for the week of July 6th, 2015. You may post random links and off-topic discussions here. Also, if you have an idea or a topic you’d like to see covered in an article, please make it known.

Note: The comment limit in open threads is 25 comments per person.

NOTICE: If you have comments to make about politics or economics that do not somehow directly relate to Seattle-area real estate, they may be posted in the current Politics & Economics Open Thread. If you post such comments here, they will be moved there.


About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

62 comments:

  1. 1
    Blurtman says:

    James McNerney retired a few days ago from his position as CEO of Boeing. Between 2005 and 2014, he raked in nearly $250 million in pay. His retirement package is $59 million. During his reign at Boeing, McNerney squeezed Boeing engineers and machinists, and outsourced so much of its Dreamliner development that the plane came in three years late and had to be grounded for safety in 2013. (Sources: Chicago Business, 6/27/15; EPI, 6/21/15; Sam Pizzigati).
    Make no mistake: The economic story of our time is the Great Upward Redistribution.

    https://www.facebook.com/RBReich?fref=nf

  2. 2
    pfft says:

    By Blurtman @ 1:

    James McNerney retired a few days ago from his position as CEO of Boeing. Between 2005 and 2014, he raked in nearly $250 million in pay. His retirement package is $59 million. During his reign at Boeing, McNerney squeezed Boeing engineers and machinists, and outsourced so much of its Dreamliner development that the plane came in three years late and had to be grounded for safety in 2013. (Sources: Chicago Business, 6/27/15; EPI, 6/21/15; Sam Pizzigati).
    Make no mistake: The economic story of our time is the Great Upward Redistribution.

    https://www.facebook.com/RBReich?fref=nf

    LOL. remember in the late 90’s when CEOs were gods?

  3. 3
    One Eyed Man says:

    RE: Blurtman @ 1

    The bottom line result of trickle down economics (the economic policy of post Reagan America) is upward redistribution of wealth.

    The problem with trickle down is that the ones at the top of the income chain have the power to decide the rate of trickle and they commonly keep as much as they can. I think that’s the first corollary to the Ayn Rand principle of enlightened self interest, sometimes referred to by the short hand name of greed. And old rich guys commonly have such a weak stream that the service class (i.e. working class people including many blue collar dupes like Joe the Plumber) can’t even tell their just being pissed on. Joe the plumber doesn’t understand that based upon his income, he’s part of Romney’s 47% that doesn’t really count. He doesn’t recognize that he depends on the trickle that will never keep pace with Romney’s income growth. And even if he does, Joe still dreams that he’ll win the lottery of American crony capitalism and he doesn’t want to give up the dream of trickle down becomes he would be giving up the possibility that someday he’ll be the one controlling the stream.

    The alternative theory is that it doesn’t matter if the top tier grows faster because the whole pie grows faster under trickle down. Unfortunately, the income statistics from the last 30 years seem to argue against that conclusion.

  4. 4
    Blake says:

    A few items:
    Obama’s top cop Eric Holder returns to his corporate law firm:
    https://firstlook.org/theintercept/2015/07/06/eric-holder-returns-law-firm-lobbies-big-banks/
    … After failing to criminally prosecute any of the financial firms responsible for the market collapse in 2008, former Attorney General Eric Holder is returning to Covington & Burling, a corporate law firm known for serving Wall Street clients.

    http://robertreich.org/post/123327070510
    The Supreme Court’s recent blessing of Obamacare has precipitated a rush among the nation’s biggest health insurers to consolidate into two or three behemoths…. Insurers are seeking rate hikes of 20 to 40 percent for next year because they think they already have enough economic and political clout to get them. This is also why their stock values have skyrocketed. A few months ago the Standard & Poor’s (S&P) 500 Managed Health Care Index hit its highest level in more than twenty years. Since 2010, the biggest for-profit insurers have outperformed the entire S&P 500.

    http://www.independent.co.uk/news/uk/crime/london-is-now-the-global-moneylaundering-centre-for-the-drug-trade-says-crime-expert-10366262.html

    And read this great piece from a few years ago!!
    http://www.vanityfair.com/style/society/2013/04/mysterious-residents-one-hyde-park-london
    …It comes as a surprise to most people that the most important player in the global offshore system of tax havens is not Switzerland or the Cayman Islands, but Britain, sitting at the center of a web of British-linked tax havens, the last remnants of empire. An inner ring consists of the British Crown Dependencies—Jersey, Guernsey, and the Isle of Man. Farther afield are Britain’s 14 Overseas Territories, half of them tax havens, including such offshore giants as the Caymans, the British Virgin Islands (B.V.I.), and Bermuda. Still further out, numerous British Commonwealth countries and former colonies such as Hong Kong, with deep and old links to London, continue to feed vast financial flows—clean, questionable, and dirty—into the City. The half-in, half-out relationship provides the reassuring British legal bedrock while providing enough distance to let the U.K. say “There is nothing we can do” when scandal hits.
    … “The City of London” … some investment bankers have called it the Guantánamo Bay of finance. “The British think they do finance well,” says Lee Sheppard, a tax and banking specialist at the U.S. trade publication TaxAnalysts. “No. They do the legal stuff well. Most of the big investment banks there are branches of foreign operations. . . . They go there because there is no regulation whatsoever.”

    = O R G A N I Z E D C R I M E !!!!

  5. 5

    RE: One Eyed Man @ 3 – I think it’s a little simpler than that.

    First, some incredible genius managed to come up with a successful plan to convince working class people that unions were bad.

    Second, the initial result of free trade will always be bad for countries at the upper end of the spectrum, but not bad for most businesses, particularly multi-national businesses which the top 1% are heavily involved in. Unfortunately I’m not sure that free trade is good for those in the countries at the lower end of the spectrum, or for the planet for that matter. But its very good for the top 1%.

  6. 6
    One Eyed Man says:

    RE: Kary L. Krismer @ 4

    I generally agree with both point. I’ve mentioned the second one several times on this site. But as to the reputation of unions, unfortunately sometimes they were bad (i.e. Jimmy Hoffa and many others) and sometimes they made poor decisions as to tactics and negotiations. But unions are also one of the primary losers in free trade because third world labor generally isn’t part of what they can effect through collective bargaining .

    Domestically the anti-union forces have done a great job of selling the anti-union idea under the name of “right to work.” That name makes it sound like being pro-union is anti-freedom. These anti-union forces are commonly the same people who would argue that there is too much government regulation of business. Ironically, “right to work” laws are regulation (not deregulation, as the right to work advocates would let you believe) of business in that the state is taking away by regulation the free market right of unions to negotiate for a closed shop and similar concessions like the obligation of all workers at a union company to pay union dues. Right to work laws are a great marketing scam by the right to sell regulation of unions as free market small government reforms.

    There is however some truth to “right to work” being supportive of competition and free markets in that a closed shop (and perhaps some similar things unions often desire) is arguably a form of monopoly which should be regulated just like other monopolies should be regulated under anti-trust laws. A closed shop is a barrier to entry and anti-competitive and probably should be regulated to some degree. But the belief that “right to work” is small government is just wrong. Right to work laws are government regulation of the free market place where without government regulation workers could freely bargain for all of the things that right to work laws prohibit.

  7. 7

    RE: One Eyed Man @ 5 – From memory, there are very few closed shows–things like the dockworkers. Union shops are not closed, but requires everyone to be a member of the union. In right to work states people can avoid joining the union, but the union is still required to represent them in grievances. It creates a huge free-rider problem for them.

  8. 8
    redmondjp says:

    RE: One Eyed Man @ 6 – Hello guys, but unions have done nothing to stem job offshoring! They have only served to replentish Democratic campaign coffers. And Democrat politicians have been no friends to labor either – most recent example, Obama and the TPP. Looking back a few years for another example: eight years of Clinton/Gore, during which China received most-favored nation trading status.

    I was working at Delco Electronics (GM subsidary) during the mid-1980s when they already had a Singapore operations as well as a plant in Matamoros, Mexico. And while I was there, they opened a second plant in Reynosa, Mexico. The UAW agreed to those job moves, so long as the remaining workers in Kokomo got a new drinking fountain that was 15 feet closer to their work area than the existing drinking fountain, and similar bennies. No joke. I remember seasoned exempt employees explaining all of this to me – how the union was selling out, even back then. And thus, the 1M sq ft Delco plant in Kokomo is now empty, with only about 1500 employees left as compared to almost 20K back in the 1980s.

    Give me one example of how any labor union has been able to stop the offshoring of jobs that has been going on for decades, if you can find one.

  9. 9
    pagefive says:

    Has there been any discussion about shockingly low home valuations (for HELOCS)? We live in West Seattle and bought our house in 2012 for $429K. Zillow shows the value is now in the high $470s but the bank (credit union) says it’s worth $425K! LESS than our purchase price in 2012 when the market was slow? What the heck? The same thing happened to a friend applying for a HELOC through two other banks. There’s over a $80K difference between her home value on Zillow and the banks’ valuation. What’s the deal?

  10. 10

    RE: redmondjp @ 8 – I think you’re setting the bar a bit high if you expect them to be able to stop everything and create some sort of worker utopia. But you do make a valid comment about Democrats selling out the unions.

  11. 11
    redmondjp says:

    RE: Kary L. Krismer @ 9 – There should be tangible, obvious benefits to belonging to a labor union that confiscates 1% (or more) of your annual gross salary. One of the actual listed benefits of belonging to the union in my workplace: “discount on pet haircuts” – wowee, sign me up right there!

  12. 12

    RE: redmondjp @ 10 – Back in the day there were more benefits. In 1976 I was making something like $5.50 an hour in high school working at Safeway. That’s probably over $20 an hour in today’s dollars. In 1980 I was making $10.51 an hour at a part time college job, with the best medical insurance I’ve ever had and vacation time.

    Now about all some unions do (particularly retail clerks) is handle grievances. They’ve lost their power.

  13. 13
    Blake says:

    Chinese stock market keeps plunging, so they just suspend trading in 1,300 companies!
    http://www.bloomberg.com/news/articles/2015-07-08/china-s-market-rescue-makes-matters-worse-as-prices-lose-meaning
    “It’s absurd,” said Tsutomu Yamada, a market analyst at Kabu.com Securities Co. in Tokyo. “It shows how much of a fake market it is. Those who want to sell will keep wanting to sell. When they start trading again, just think of how much selling there’ll be.”

    China, Greece, Malaysia, Puerto Rico… lots of trouble abrewing!
    (Think the Fed is still seriously considering raising rates!?)

  14. 14
    MD says:

    Is there anywhere online where I can see the names of the buyers of homes that have recently sold?

    I grew up in a part of the country where the buyer names and the sale dollar figure were published in the newspaper. Is that info available online for Seattle?

  15. 15

    RE: MD @ 14 – You could look at Warranty Deeds in the King County Recorder’s office (or whatever the applicable county is). Search by Tax ID number. I’m not certain how quickly King County has everything fully indexed, so searching by ID number might require waiting a week or something. Searching by name it’s almost instantaneous (at least in King County). I often know a transaction has closed before the escrow gives me a call.

  16. 16
    redmondjp says:

    By pagefive @ 9:

    Has there been any discussion about shockingly low home valuations (for HELOCS)? We live in West Seattle and bought our house in 2012 for $429K. Zillow shows the value is now in the high $470s but the bank (credit union) says it’s worth $425K! LESS than our purchase price in 2012 when the market was slow? What the heck? The same thing happened to a friend applying for a HELOC through two other banks. There’s over a $80K difference between her home value on Zillow and the banks’ valuation. What’s the deal?

    How close are the banks’ valuations to those of the King County Assessor?

  17. 17

    RE: pagefive @ 9 – Did the bank do a real appraisal, where the appraiser comes out and sees the house, or just an automated appraisal? If the latter, they probably just used the lower number of the range.

    In any case, for purposes of a HELOC they are going to want to be conservative, although they could accomplish the same result by limiting the maximum advance to a percentage of the value.

  18. 18
    Blurtman says:

    RE: Kary L. Krismer @ 17 – We want low risk loans. That will enable sustainability.

  19. 19
    pagefive says:

    RE: Kary L. Krismer @ 17
    It was an automated appraisal and the range was $361-497K with a 85% confidence score. An architect friend said this (i.e. lower than expected home valuation) is happening to his clients on a weekly basis. I think you’re correct that banks are being very conservative.

  20. 20
  21. 21
    MD says:

    RE: Kary L. Krismer @ 15 – Brilliant! Thank you sir.

  22. 22
    pfft says:

    Looks like Bernie Sanders has been reading SB.

    Bernie Sanders’ financial transaction tax proposal could raise $50 billion

    Read more: http://www.thefiscaltimes.com/2015/07/08/Pros-and-Cons-Bernie-Sanders-50-Billion-Tax-Idea#ixzz3fLw8nDXK

    I don’t even have to run for president.

  23. 23

    RE: pfft @ 22 – I did hear that he dared say what the real unemployment rate is.

  24. 24
    pfft says:

    By Kary L. Krismer @ 23:

    RE: pfft @ 22 – I did hear that he dared say what the real unemployment rate is.

    there is no “real” unemployment rate. the unemployment rate is what it is. it’s always been calculated that way.

  25. 25

    RE: pfft @ 24 – His terminology, not mine.

    http://freebeacon.com/politics/bernie-sanders-real-unemployment-rate-is-10-5/

    But when the unemployment rate drops because people give up, that is not good. You’re right that has always been that way, or at least been that way a long time. The most widely published number doesn’t include those who give up. But other statistics do.

    And this is connected into the argument about income growth. Why would incomes rise when there is such an excess amount of labor available? When there’s a lot of supply, prices will stay low. I know you don’t believe my claims about how bad Obama has been at managing the economy, but my claims are proven by both the labor participation rates and the lack of income growth for normal wage earners.

  26. 26
    pfft says:

    LOL. This person is the republicans’ best chance to defeat hillary. LOL.

    Jeb: Americans should work ‘longer hours’ to improve economy

    Read more: http://www.businessinsider.com/r-bush-says-americans-should-work-longer-hours-in-improved-economy-2015-7#ixzz3fMJcyChr

  27. 27
    Blurtman says:

    RE: pfft @ 26 – To hell with Hillary.

  28. 28
    Macro Investor says:

    By Kary L. Krismer @ 5:

    RE: One Eyed Man @ 3 – I think it’s a little simpler than that.

    First, some incredible genius managed to come up with a successful plan to convince working class people that unions were bad.

    Let’s not forget the incredible genius who convinced women that it’s better to work than to stay home with the kiddies. That essentially doubled the size of the work force. Very good for businesses. Not good for working class wage earners.

  29. 29
    pfft says:

    By Kary L. Krismer @ 25:

    RE: pfft @ 24 – His terminology, not mine.

    http://freebeacon.com/politics/bernie-sanders-real-unemployment-rate-is-10-5/

    But when the unemployment rate drops because people give up, that is not good. You’re right that has always been that way, or at least been that way a long time. The most widely published number doesn’t include those who give up. But other statistics do.

    And this is connected into the argument about income growth. Why would incomes rise when there is such an excess amount of labor available? When there’s a lot of supply, prices will stay low. I know you don’t believe my claims about how bad Obama has been at managing the economy, but my claims are proven by both the labor participation rates and the lack of income growth for normal wage earners.

    obama is on pace to create 16 million jobs even though he had to deal with the Great Recession and Republicans trying to sabotage his presidency at every turn.

    “but my claims are proven by both the labor participation rates and the lack of income growth for normal wage earners”

    prove. he’s bad besides the tens of millions of jobs created. the participation rate is because the boomers retiring. some of it is because of the Great Recession. income growth has been a problem for awhile. it predates Obama. Obama’s economic policies have been blocked for awhile by Republicans. No jobs bill that would have created millions of jobs. No min wage bill that would raise the average person’s earnings. what would you do kary? reduce regulations? lower taxes? been there, doesn’t work. repeal Obamacare? it’s a jobs creator.

  30. 30
    pfft says:

    By Blurtman @ 27:

    RE: pfft @ 26 – To hell with Hillary.

    she is going to be a good president. the haters will hate though.

  31. 31
    Blurtman says:

    RE: pfft @ 30 – Finding a candidate to be unacceptable is not hating. Please take your trolling setting off auto-drive.

  32. 32
    pfft says:

    By Blurtman @ 31:

    RE: pfft @ 30 – Finding a candidate to be unacceptable is not hating. Please take your trolling setting off auto-drive.

    she’s going to be a good president. deal with it. so who is your great candidate? Bernie Sanders? A republican?

  33. 33
    redmondjp says:

    By pfft @ 32:

    By Blurtman @ 31:

    RE: pfft @ 30 – Finding a candidate to be unacceptable is not hating. Please take your trolling setting off auto-drive.

    she’s going to be a good president. deal with it. so who is your great candidate? Bernie Sanders? A republican?

    Once again, proving that you are nothing more than a George-Soros-paid propaganda poster. Dude! Give it a rest . . . there is a politics thread here, use it. Nobody wants to hear this stuff.

  34. 34

    By Macro Investor @ 28:

    Let’s not forget the incredible genius who convinced women that it’s better to work than to stay home with the kiddies. That essentially doubled the size of the work force. Very good for businesses. Not good for working class wage earners.

    That’s actually a rather complicated one. Ignoring the obvious fact that many women actually want to do something productive by working, two working spouses increases the family’s disposable income by an incredible amount. But then as more and more families do that, prices rise from increasing demand, particularly housing prices. So you eventually get to the point where you’re no better off than you were, but because it’s the group’s action causing the price inflation, you can’t just stop and go back to what you were doing before.

  35. 35
    Blake says:

    A woman to represent the people… a real progressive… she says!
    https://www.opensecrets.org/politicians/contrib.php?cycle=Career&cid=n00000019
    Top Contributors: Senator Hillary Clinton
    Citigroup Inc $782,327
    Goldman Sachs $711,490
    DLA Piper $628,030
    JPMorgan Chase & Co $620,919
    EMILY’s List $605,174
    Morgan Stanley $543,065
    Time Warner $411,296
    Skadden, Arps et al $406,640
    Lehman Brothers $362,853
    … at least “the people” who matter… BIG CHANGE a coming! So exciting…

    But the big problem for her is… she is not a nice person and totally disingenuous:
    http://www.thedailybeast.com/articles/2015/07/07/hillary-plays-the-victim-in-cnn-interview.html
    Wow… just wow, read this piece! …and that’s from The Daily Beast, which is aligned with her corporatist politics!
    >> “She added emphatically—desperately?—“People should and do trust me.”
    hah ha hah hah hah ha ha hah ha hah hah hah ha ha

  36. 36
    Blurtman says:

    RE: Blake @ 35 – She is more bad news of the same type many Americans are sick of. But I suppose a Hillary president lays the groundwork for privileged princess Chelsea’s run.

  37. 37
    pfft says:

    By redmondjp @ 33:

    By pfft @ 32:

    By Blurtman @ 31:

    RE: pfft @ 30 – Finding a candidate to be unacceptable is not hating. Please take your trolling setting off auto-drive.

    she’s going to be a good president. deal with it. so who is your great candidate? Bernie Sanders? A republican?

    Once again, proving that you are nothing more than a George-Soros-paid propaganda poster..

    LOL. all always love those accusations. Don’t forget to mention Acorn or Benghazi!

    What’s wrong with Soros? Dude is a legendary investor. absolutely legendary. I wish I worked for him managing money.

  38. 38
    pfft says:

    By Blake @ 35:

    A woman to represent the people… a real progressive… she says!
    https://www.opensecrets.org/politicians/contrib.php?cycle=Career&cid=n00000019
    Top Contributors: Senator Hillary Clinton
    Citigroup Inc $782,327
    Goldman Sachs $711,490
    DLA Piper $628,030
    JPMorgan Chase & Co $620,919
    EMILY’s List $605,174
    Morgan Stanley $543,065
    Time Warner $411,296
    Skadden, Arps et al $406,640
    Lehman Brothers $362,853
    … at least “the people” who matter… BIG CHANGE a coming! So exciting…

    But the big problem for her is… she is not a nice person and totally disingenuous:
    http://www.thedailybeast.com/articles/2015/07/07/hillary-plays-the-victim-in-cnn-interview.html
    Wow… just wow, read this piece! …and that’s from The Daily Beast, which is aligned with her corporatist politics!
    >> “She added emphatically—desperately?—“People should and do trust me.”
    hah ha hah hah hah ha ha hah ha hah hah hah ha ha

    She was one of the most liberal Senators and she supports Dodd-Frank. Good enough for me.

    Do you realize that not everyone that works at a bank is a terrible person? Those numbers are most likely individual donations.

  39. 39
    pfft says:

    People said that artificially low interest rates caused the housing bubble…mortgages rates are even lower now.

    http://4.bp.blogspot.com/-OuYWkLqhIVA/VZ6sawEW7qI/AAAAAAAAkRY/4-M0rGaat48/s1600/FreddieRatesJuly2015.PNG

    Another sign of recovery, heavy truck sales.

    http://www.calculatedriskblog.com/2015/07/us-heavy-truck-sales-in-june-highest.html

  40. 40
  41. 41

    By pfft @ 26:

    LOL. This person is the republicans’ best chance to defeat hillary. LOL.

    Jeb: Americans should work ‘longer hours’ to improve economy

    Read more: http://www.businessinsider.com/r-bush-says-americans-should-work-longer-hours-in-improved-economy-2015-7#ixzz3fMJcyChr

    Did you even read the article? He’s talking about people who are now forced to work part time actually being able to work full time. That would not only be good for them, but it would also be good for the economy because their discretionary spending would rise far more than the percentage increase in the number of hours worked.

    Bush was asked about the comment by reporters after a town hall event in Hudson. He said the U.S. economy needs to grow far faster than currently to allow people to move from part-time work to full-time so they can better provide for their families.

    “You can take it out of context all you want, but high sustained growth means people work 40 hours rather than 30 hours and that by our success they have disposable income for their families to decide how they want to spend it rather than standing in line and being dependent upon government,” he said.

    You believe partisan BS even when it’s debunked in the article you link! Personally I thought what he was saying was rather obvious even without the explanation. Only a person with zero understanding of economics wouldn’t understand the comment even if you only read the original comment.

  42. 42
    redmondjp says:

    By Kary L. Krismer @ 41You believe partisan BS even when it’s debunked in the article you link! Personally I thought what he was saying was rather obvious even without the explanation. Only a person with zero understanding of economics wouldn’t understand the comment even if you only read the original comment.

    Or it just proves what I’ve been saying for awhile now: he’s nothing more than a Soros-paid propaganda mouthpiece. Those people aren’t paid to think. They are paid to promulgate the narrative. And in fact, thinking is detrimental in useful mouthpieces anyways.

  43. 43
    pfft says:

    By redmondjp @ 42:

    By Kary L. Krismer @ 41You believe partisan BS even when it’s debunked in the article you link! Personally I thought what he was saying was rather obvious even without the explanation. Only a person with zero understanding of economics wouldn’t understand the comment even if you only read the original comment.

    Or it just proves what I’ve been saying for awhile now: he’s nothing more than a Soros-paid propaganda mouthpiece. Those people aren’t paid to think. They are paid to promulgate the narrative. And in fact, thinking is detrimental in useful mouthpieces anyways.wow dude. you are obsesses with Soros. Obviously if someone has a different opinion than you they are paid for right? You never told me who you thought was a good presidential candidate. it’s obvious, you are a tea partier. you probably support Rand Paul who is a joke.

    Jeb had an epic gaffe. He was trying to defend his “I will make the economy grow at 4% again” gaffe from the other day. The economy has almost never grown at that sustained rate. Economists laughed at him. The problem is Americans can’t seem to get a raise from big business. The profits from increased profitability are going right to the top. Americans have one of the longest work weeks in the developed world. THEY NEED TO BE PAID MORE!

    At least Jeb didn’t say we need tax cuts to grow although just wait.

    “And in fact, thinking is detrimental in useful mouthpieces anyways.”

    LOL. you people have a pretty high opinion of yourselves if you think Soros or anyone cares what we think here!

  44. 44
    redmondjp says:

    RE: pfft @ 43 – I’ve already told you that Jebillary will win. So all this talk about the so-called best candidate is a complete waste of time which I refuse to engage in. It’s all pointless theatre.

    Why are you so insistent on discussing such a topic on a local real estate blog? That says paid shill to me.

  45. 45

    RE: pfft @ 43 – It wasn’t an epic gaffe. It was an epic failure to understand by some ignorant people. The article over at MSNBC was actually funny because it demonstrated so much ignorance.

    Workers being forced to get by on part time jobs has been a huge problem. You and others who think the economy is doing well didn’t understand what Bush was saying, because of ignorance of the problem.

  46. 46
  47. 47
    One Eyed Man says:

    RE: Blurtman @ 46

    At my age I almost always need the blue pill if I want things to rise.
    And I’m pretty sure that the ones that mother gives you don’t do anything at all.
    In the end, I suggest one remember what the door mouse said because we’re so far down the rabbit hole Hilary looks like the red queen. In the general election rather than the primary, I think the winning political strategy is most often to co-opt the other guys policies in order to steal the votes in the middle.

    With a few exceptions, all politicians are hucksters so Jeb saying he’ll do something seemingly impossible shouldn’t be a surprise. But given history, how does Jeb think he can grow the economy at 4% for more than maybe a year? If the past has any predictive value Jebs best chance of growing the economy at 4% for a four year term would be to run as a democrat and change his name to Clinton. No republican has been able to average 4% growth for a full 4 year term in my lifetime, including the host of Death Valley Days. Ironically, history says a steaming hot pile of Democraps are statistically better for the economy (and business?). Caution, past results are not necessarily predictive of future outcomes.

    http://www.princeton.edu/~mwatson/papers/Presidents_Blinder_Watson_Nov2013.pdf

  48. 48

    So Far I’ve Given Up Voting

    Trump made my eyes open wide in old fashion liberal admiration, but his “so-called” toxic immigration politics will need a 3rd party to fight off the two party globalism brainwashing.

  49. 49

    RE: softwarengineer @ 48

    Update: Here’s a News URL:

    Snippet:

    “In a Economist/YouGov poll released Thursday, Trump holds 15% of the Republican vote nationally — ahead of former Gov. Jeb Bush of Florida (11%). But the good news for Trump didn’t stop there…”

    http://finance.yahoo.com/news/unstoppable-trump-donald-rocketing-upward-112016943.html

  50. 50

    SWE’s Investment Report for June 2015 (end of Q2)

    0.17% (1.07%) (1.93%) (0.71%) (2.80%)
    YTD 0.96% 0.50% 1.26% 4.96% 6.52%
    Last 12 mo 2.09% 2.32% 7.50% 6.53% (3.95%)

    CD [long-term], Bonds [long-term], American Stocks, Foreign Stocks, Foreign Stocks

    The smart ones sold their stock investments last March?

    June 2015 was a Bear Stock Market Month.

  51. 51
    Blurtman says:

    RE: One Eyed Man @ 47 – He wants to redistribute wealth from billionaires into the pockets of working men and women. He wants to end childhood poverty and other social ills by forcing the richest Americans to pay much higher taxes. He wants to break up the six largest U.S. banks and halt federal tax dodges by U.S. corporations that shelter their money abroad. He wants to overturn the Citizens United Supreme Court decision and stop the Koch Brothers and their oceans of money from pouring into Republican campaigns. He wants to stay out of foreign wars—he, unlike Hillary, voted against the war in Iraq. He wants to kill trade deals, such as the Trans-Pacific, and fast track negotiation authority. He wants to replace Obamacare with a universal single-payer system. He wants to hit the pharmaceutical companies hard—their huge profits, he argues, wrung out of charging much more for drugs in the U.S. than in Canada and other countries. He wants open borders, government regulation of media ownership, strict regulation and cuts in greenhouse gases, two years of tuition-free public college and university education, and $1 trillion to repair and rebuild roads and bridges. He also wants to raise the minimum wage, which he calls a “starvation wage,” to $15 an hour.

    http://www.chicagomag.com/Chicago-Magazine/Felsenthal-Files/May-2015/Bernie-Sanders-University-of-Chicago/

  52. 52

    RE: Macro Investor @ 28

    Imagine 1970

    America had about half the population it does today [200M] and still made almost all manufacturing items they used….and we still had time for vacations to Disneyland. This was before we lost most of our manufacturing and added more two incomes competing with single incomes for what was left of the scarce higher paid jobs. America simply doesn’t have enough work left to spread around, in comparison…

  53. 53

    RE: Blurtman @ 51

    How Do You Do That Without Destroying the Economy With Much Higher Taxes and Interest Rates?

    Hire a tooth fairy?

  54. 54

    I think this is a public FB page. Apologies if it is not. Link provided for the picture, not any particular comment.

    https://www.facebook.com/OMGParadisePage/photos/a.229022883787475.58100.225933684096395/417511691605259/?type=1

  55. 55
    DrRick says:

    Interesting article from Salon on Eric Holder’s “new” gig. The piece about his law firm being partially responsible for MERS, and for poorly papered mortgages, is good.

    http://www.salon.com/2015/07/07/why_eric_holders_new_job_is_an_insult_to_the_american_public/

    Fel Temp Reparatio

  56. 56
    DrRick says:

    By Kary L. Krismer @ 54:

    I think this is a public FB page. Apologies if it is not. Link provided for the picture, not any particular comment.

    https://www.facebook.com/OMGParadisePage/photos/a.229022883787475.58100.225933684096395/417511691605259/?type=1

    I like it!

    Fel Temp …

  57. 57
    Blurtman says:

    RE: DrRick @ 55 – More of the same with Hillary.

  58. 58
    pfft says:

    By redmondjp @ 44:

    RE: pfft @ 43 – I’ve already told you that Jebillary will win. So all this talk about the so-called best candidate is a complete waste of time which I refuse to engage in. It’s all pointless theatre.

    Why are you so insistent on discussing such a topic on a local real estate blog? That says paid shill to me.

    it’s an open thread. we have been talking politics and off topic things for years! it’s only a problem when I post something. everyone else does it and it’s fine. I get it though, you are a tea partier and don’t like outspoken liberals.

    there are things I don’t read but you don’t see me crying over it. maybe you need a wambulance? google it.

  59. 59
    pfft says:

    By Kary L. Krismer @ 45:

    RE: pfft @ 43 – It wasn’t an epic gaffe. It was an epic failure to understand by some ignorant people. The article over at MSNBC was actually funny because it demonstrated so much ignorance.

    Workers being forced to get by on part time jobs has been a huge problem. You and others who think the economy is doing well didn’t understand what Bush was saying, because of ignorance of the problem.

    I’ve said repeatedly the economy has problems. maybe you forgot? AMERICANS NEED TO BE PAID MORE! They don’t need more hours and they certainly don’t need more hours for Jebs ridiculous 4% growth gaffe. Americans are already working longer hours. They have had to for over 20 years to make up for the lack of wage growth. all the money goes to the top. they don’t need bush making them work longer hours so we can’t hit his pink pony 4% growth rates. not everyone thinks working more hours is the greatest thing. that isn’t to say we don’t have too many people working part time for reasons related to a slow economy.

    if you polled most economists and working people they would say almost to a person that the average working person needs be paid more per hour over working longer hours. anyone want to work saturdays to get 4% growth? LOL.

  60. 60
    pfft says:

    By softwarengineer @ 52:

    RE: Macro Investor @ 28

    Imagine 1970

    America had about half the population it does today [200M] and still made almost all manufacturing items they used….and we still had time for vacations to Disneyland. This was before we lost most of our manufacturing and added more two incomes competing with single incomes for what was left of the scarce higher paid jobs. America simply doesn’t have enough work left to spread around, in comparison…

    LINK!

  61. 61
    redmondjp says:

    RE: pfft @ 60 – Why do you always need a link? Are you too lazy to look it up yourself? And what does a link prove? Prove to us that you aren’t a paid shill. Try to have a discussion w/o resorting to Soros talking points. Or demanding a link when you don’t like something. I dare you.

    And LOL about me being in the tea party! That’s exactly what Soros would tell you to say – anybody that challenges you MUST be labelled as such, right? That’s exactly how the game is played, and you seem to know all the rules.

  62. 62

    RE: redmondjp @ 61 – He needs a link so that he can read the facts in the article which support his point of view, and totally ignore the other side. Sort of like the link he posted on Jeb’s more hours comment, where he ignored the (patently obvious to anyone with any understanding of the economy) explanation for the comment entirely.

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